How can I change the timing for the Daily Settlement Batch in Automated Settlement Reconciliation?

You can change the timing of the Daily Settlement Batch by navigating to Customization > Scripting > Script Deployments. This allows you to adjust the schedule to better align with your operational workflow.

What types of fee records can be generated for Settlement Fees Setup in NetSuite 2026.1?

The system generates fee records categorized under various types such as fees, interchange, network, and payfac. These categories provide specific information necessary for accurate financial reporting.

Where can I map deposit fields to include department, class, or location data in Automated Settlement Reconciliation?

You can map deposit fields via NetSuite Pay > Daily Settlement Batch > Deposit Field Mappings. This mapping is crucial for ensuring detailed and accurate record-keeping.

Automated Settlement Reconciliation for NetSuite Pay 2026.1

TL;DR Opening

Starting in NetSuite 2026.1, Automated Settlement Reconciliation for NetSuite Pay introduces features that streamline the reconciliation of batch settlements and payments. This automation enhances reporting efficiency and accuracy, enabling businesses to manage their transactions seamlessly. Automated settlement reconciliation is also known as automatic reconciliation, auto-recon, and settlement and fee reporting, allowing automated reconciliation of batch settlements and bank deposits with payments in NetSuite.

What's New

Automated Settlement Reconciliation allows users to reconcile batch settlements and bank deposits automatically. This feature is crucial for organizations managing multiple transactions as it helps simplify accounting processes without interfering with gateway batch settlements or upstream funds transfer methods. Whether you've set up automated settlement reconciliation doesn't affect gateway batch settlement or funds transfer processes upstream; it's used only for recording and reporting.

Key Components of Automated Settlement Reconciliation

Here are the critical features and functionalities that define this new offering:

Daily Settlement Batch Scheduling: By default, this batch runs daily at 5:00 am, but can be adjusted based on organizational needs. Modifying this timing requires navigating to Customization > Scripting > Script Deployments to schedule the Daily Settlement Batch, ensuring your reconciliation process aligns with your operational workflow. You can also modify the schedule's timing and frequency as required. For more information, see Scheduling the Daily Settlement Batch.
Settlement Fees Setup: The system generates fee records categorized under various types such as fees, interchange, network, and payfac. Each type includes specific information necessary for accurate financial reporting (e.g., Wolf Electronics Fees (fees) and Wolf Electronics Interchange (interchange)). These can be reviewed and customized at NetSuite Pay > Daily Settlement Batch > Settlement Fee Setup. If you need to include department, class, or location information for journal entries, you can edit the fee records accordingly.
GL Account Mapping: As part of the reconciliation setup, the system automatically adds essential bank details such as Account Number and Routing Number into your Chart of Accounts to facilitate smoother transactions based on information in your merchant application.
Deposit Field Mapping: Users can map fields that are crucial for their deposit forms, particularly when department, class, or location data must be included. This ensures thorough and accurate record-keeping. Access these settings via NetSuite Pay > Daily Settlement Batch > Deposit Field Mappings. Map your deposit fields when your deposit form requires department, class, or location in the header. For more information, see Mapping Deposit Fields.
Settlement and Fee Report: Once everything is configured, users can access a detailed overview of reconciled payments. This report showcases deposits and associated fees, making it easier to track funds or identify discrepancies. Records marked with "Retry" indicate potential issues where no matching payment was found in the system, aiding in quicker issue resolution. After automated settlement reconciliation is set up, you can view deposits for reconciled payments by going to NetSuite Pay > Daily Settlement Batch > Settlement and Fee Report. To view the details of a specific deposit, select the deposit record listed in the Deposit Transaction(s) column. Payments are displayed on the Payments subtab. Fees for each batch can be seen by selecting the journal record listed in the Journal Entry Transaction(s) column, with fees displayed in the Lines subtab.

Who This Affects

The following roles and modules are significantly impacted by this new feature:

Roles: Administrators, Accountants, Financial Analysts
Modules: Ordering Management, Payment Processing, Financial Reporting

Key Takeaways

Automated Settlement Reconciliation streamlines transaction matching and improves reporting accuracy.
Daily Settlement Batch runs can be scheduled according to business needs without causing disruption to payment processing.
Customizable fee records allow comprehensive categorization for better financial insights.
Mapping of deposit fields ensures detailed reporting aligned with organizational requirements.
Discrepancies can be quickly identified via the Settlement and Fee Report, facilitating prompt resolution.

Version History

2026.1: Introduced Automated Settlement Reconciliation, allowing automated reconciliation of batch settlements, improved scheduling and enhanced reporting features.